Company
Spirax Group PLC
LON:SPX
Spirax Group PLC, formerly Spirax-Sarco Engineering, provides knowledge, service and products for the control and use of steam and other industrial fluids and for peristaltic pumping.
64 stories
Spirax-Sarco Engineering holds full-year guidance
“On the basis of current economic forecasts, we anticipate at least mid-single-digit group organic sales growth, together with a small operating margin progression,” the company stated
Spirax-Sarco buys US thermal energy specialist Durex International for US$342mln
The acquisition will be financed through bank facilities and will be accretive to earnings in 2023, Spirax-Sarco said
Spirax-Sarco Engineering in talks to buy industrial electric heating group Vulcanic for €261.7mln
Vulcanic manufactures industrial electric heating and cooling products
Spirax-Sarco Engineering to extend digital strategy in £13.3mln acquisition
Cotopaxi will be integrated within the company's steam specialties business, which provides innovative, efficient, and sustainable solutions for industrial steam customers
Archive
FTSE 100 closes in the red as Wall Street echoes negative performance
The UK's main index lost 40 points on Monday to finish in the red at 7,445 points, a 0.5% loss on the day
Spirax-Sarco Engineering repeats guidance and predicts record order book but sees impact from supply chain woes
The engineering group said its businesses have been somewhat impacted by shipment delays
Archive
FTSE 100 closes back above 7,200 as US blue-chips advance after benign US CPI
At the close, the UK blue-chip index was 59.10 points or 0.8% firmer at 7,220.14, the session high and an 18-month peak
Spirax-Sarco hikes forecasts as global industrial production growth continues to recover
Its Watson-Marlow fluid technology subsidiary is expected to see 55% organic sales growth to the pharmaceutical sector this year due to continuing strong COVID-related demand
Spirax-Sarco Engineering shares rise as it ups dividend
"Following a stronger than anticipated fourth quarter, we are very pleased with the group's performance in 2020," said Nicholas Anderson
Spirax-Sarco turns up dial on dividend but expects tougher second half
The pumps maker believes revenue growth in the second half of the year will be lower than previously anticipated
Spirax-Sarco knocked to ‘hold’ as Peel Hunt says outlook now reflected in share price
The broker highlighted that all of the firm’s production facilities were now up and running and over 50% of sales directed to “critical sectors on the frontline of the pandemic”
Spirax-Sarco confirms dividend after robust first quarter, expects worse to come
The steam and pumps specialist said trading has so far held up well, but it believes “the worst of the downturn will occur in the second and third quarters of 2020”
Spirax-Sarco Engineering confirms full-year expectations despite economic backdrop, Peel Hunt upgrades
In the four months to 31 October, group sales excluding acquisitions and disposals had a lower growth rate compared to the previous period
Spirax-Sarco outstrips industrial production in first half but global market is slowing down
The steam-control specialist grew revenues 8% organically and at reported rates
Spirax-Sarco slips off all-time high as Goldman says 'sell'
Goldman Sachs cut its rating from its previous ‘neutral’ stance, but still upped its share price target to 7,500p from 6,700p with the FTSE 100 group’s shares having surged more than 50% in 2019
Peel Hunt likes industrials but wary of some 'nosebleed' valuations for Diploma and Spirax-Sarco
The flight to safety in 2019 has pushed the share price premium for a handful of UK industrial stocks to "nose-bleed multiples" not seen since the financial crisis, the broker said
Berenberg prefers “outstanding” Spirax-Sarco over rival engineers Spectris and Rotork
The German bank believes Spirax justifies its premium valuation, while it is yet to be convinced by Spectris’ and Rotork’s growth plans
Spirax-Sarco builds up steam but warns about slowing industrial growth
Global industrial production growth is forecast to slow to 2.0% for 2019, down from a previous estimate of 2.6% and the 3.3% seen last year
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FTSE 100 closes higher as Trump trade fears ease
The mid-cap FTSE 250 was also a shade higher - adding around two points at 19,369
Archive
More turbulence likely from first-half numbers from travel firm TUI on Wednesday
Aside from the TUI numbers, blue-chip firms including DIY stores group Kingfisher, contract caterer Compass Group and credit checking firm Experian will also issue updates on Wednesday
Cobham trading in line as it appoints new chairman
Jamie Pike will be well-known to many investors as the current chair of RPC and Spirax-Sarco, while he has also been chairman at Ibstock and Tyman in recent years
Archive
FTSE 100 ends lower as US stocks retreat after mixed tech earnings
The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
Archive
Barclays set to kick off Q1 reporting season for UK banks
Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
Spirax-Sarco shares cool as it cautions on industry slowdown, moderates growth forecasts for 2019
In an outlook statement accompanying its full-year results for 2018, the engineering firm said global industrial production growth had slowed throughout the year to 3.3% from 3.6% and was likely to drop even lower in 2019
FTSE 100 closes lower after European Central Bank strikes downbeat note
"Brutal cuts from the ECB as GDP growth for 2019 is cut from 1.7% to 1.1%. With this in mind, it seems like any possible interest rate raises are all but completely ruled out until likely 2021," declared Jordan Hiscott, the chief trader at
Archive
Insurers Aviva and Admiral in Thursday’s results spotlight
Results from Aviva, Admiral, Greggs and Premier Oil are all in the diary for Thursday.
Hardware & electrical equipment
Spirax Sarco poised to buy French thermal solutions specialist Thermocoax
A particular advantage of Thermocoax's cable heaters is that they are small in size and low in weight compared with conventional tubular heaters allowing precise delivery of heat.
Spirax-Sarco sells air humidification unit for €59mln
HygroMatik joined the Spirax Sarco Group in 1988 but due to limited strategic fit has always operated separately from the Steam Specialties division in which it is reported
Christmas spirit could be lacking for Royal Mail as ejection from FTSE 100 index beckons once again
Christmas might be Royal Mail’s busiest time of the year but a shock profit warning from its new chief executive Rico Back in October wiped out 20% of the postal firm’s market value, making the group a shoo-in for another demotion
Halma and Spirax-Sarco downgraded by Morgan Stanley on sector concerns
Morgan Stanley made the cuts largely because it has derated the capital goods sector since the pair's last earnings updates
RBC Capital ups Melrose to Top Pick in major review of UK engineering sector
In a note to clients, the Canadian bank’s analysts concluded: “We do not expect a major downturn, but even if there is one the recent sector sell-off has priced in a recession for many names in our coverage group”
Numis downgrades Spirax-Sarco following strong share price run, valuation concerns
Spirax-Sarco shares have increased in value by more than 15% over the last year
Spirax-Sarco first-half profit rises despite adverse currency hit
The FTSE 250-listed group said favourable currency tailwinds became a headwind in the first half of 2018, leading to a 5% hit from currency movements
Investments and investor services
FTSE 100 consolidates gains as sterling's woes continue
Sterling's fall was good news for the Footsie's many big dollar earners
Archive
Finance in focus again on Wednesday as insurance and gambling sector heavyweights to report
Away from the banks, the financial sector will still be at the forefront of the market's mind as Prudential and Paddy Power Betfair prepare to release interim results
Spirax-Sarco Engineering expects currency headwinds to reduce sales and profits
The FTSE 250-listed firm said organic sales growth in the first four months of the year has been very similar to the first four months of 2017 for both the Steam Specialities and Watson-Marlow Businesses
Investments and investor services
FTSE 100 closes higher but miners hit by Chinese data
Around 3.20pm, the UK blue-chip index was up 17 points to 7,728
Archive
easyJet's losses expected to narrow on back of increased passenger loads
As well as easyJet, updates are expected from big names such as Vodafone, Land Securities and Hargreaves Lansdown.
Spirax-Sarco eyes boost from oil price after strong end to 2017
The FTSE 250-listed firm said its adjusted operating profit grew to £235.5mln in 2017
Investments and investor services
FTSE 100 closes higher as Dow Jones climbs after host of data
Britain's blue chip index closed up around seven points, or 0.10%, at 7,139..
Investments and investor services
Cineworld and Savills financial results in the spotlight for Thursday
Investors will be looking to Cineworld for news of asset integration, whereas for Savills results the attention will be on its battle for market share.
Spirax-Sarco posts jump in first-half profit and revenue helped by acquisitions, sterling weakness
The FTSE 250-listed firm - which makes steam traps and pumps – reported a 30% leap in adjusted pre-tax profit to £99.2mln for the six months to June 30, up from £76.2mln a year earlier, as its revenue rose by 25% to £428.6mln
Archive
G4S expected to continue recent recovery with solid first half update
Given the recent terror attacks, demand for G4S’s security services is likely to have remained strong in the opening six months
Spirax-Sarco steams higher on US$415mln acquisition of US thermal technology firm Chromalox
The FTSE 250-listed group said the acquisition of Pittsburgh-based Chromalox - which has five manufacturing facilities across North America, France and China - will add to its earnings in the current year
Archive
William Hill to report improved trading after successful Cheltenham for bookmakers
William Hill reports a trading update for the 17 weeks to 25 April under new chief executive Philip Bowcock
Archive
Pensioners, Ofcom and rivals snap away at BT
Week ahead: BT and Talk Talk: ITV, Barratt Developments, Centrica, William HIll and more ...
Liberum Capital expects UK industrial stocks to “grind higher” helped by global demand, higher pricing
The broker's analysts have revised their estimates across the sector, taking them to 6% above consensus, and have raised price targets for all the stocks they cover
Brexit currency bounce helps engineer Spirax-Sarco steam ahead
If current exchange rates prevail, revenues would be 6% higher due to translation
FTSE 100 stocks endure a refund as supermarket Morrison falls
FTSE 100 stocks bagged a net loss on Thursday after supermarket chain WM Morrison fell on an uncertain outlook
Archive
Day ahead: Morrison's results revival expected; ECB to hold pat on policy
The FTSE 100-listed food retailer reported a 2.9% increase in its like-for-like sales, for the first nine weeks of the fourth quarter - its best performance in seven years.
Kingfisher trading will be in focus on Tuesday
Kingfisher Plc, Homeserve PLC, Rotork PLC and Babcock International Group PLC are all in Tuesday's agenda
Chancellor's Autumn Statement is time for fiscal re-set
The new chancellor of the exchequer gets to set out his stall
Tuesday's agenda: Paddy Power faces hit from poor sporting results
Paddy Power looks set to update on the Betfair merger, as well as current trading
Investments and investor services
Risers & Fallers: Tern, Wizz Air, Travis Perkins, Coal of Africa and more...
Tern said the value of its portfolio has risen more than four-fold over the past 12 months.